Company Valuation: Enghouse Systems Limited

Data adjusted to current consolidation scope
Fiscal Period: October 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 2,980 1,674 1,799 1,632 1,142 886.8 - -
Change - -43.84% 7.48% -9.31% -29.98% -22.38% - -
Enterprise Value (EV) 1 2,810 1,466 1,571 1,370 886.9 629 671.2 708.4
Change - -47.84% 7.19% -12.8% -35.27% -29.08% 6.71% 5.55%
P/E 32.3x 17.8x 24.9x 20x 15.5x 13x 12.5x 11.6x
PBR - - - 2.74x 1.88x 1.51x 1.52x 1.55x
PEG - 7.39x -1.1x 1.6x -1.75x -2.11x 3.08x 1.52x
Capitalization / Revenue 6.38x 3.91x 3.96x 3.25x 2.29x 1.88x 1.84x 1.68x
EV / Revenue 6.01x 3.43x 3.46x 2.73x 1.78x 1.34x 1.39x 1.35x
EV / EBITDA 16.7x 10.4x 11.7x 9.53x 6.95x 5.38x 5.45x 5.2x
EV / EBIT 24.7x 15.6x 18.5x 14.4x 7.76x 6.45x 6.41x 6.21x
EV / FCF 24.4x 14.3x 13.8x 10.5x 8.6x 7.03x 7.01x 6.09x
FCF Yield 4.1% 6.98% 7.27% 9.5% 11.6% 14.2% 14.3% 16.4%
Dividend per Share 2 2.14 0.74 - 1 1.16 1.22 1.38 1.58
Rate of return 3.99% 2.44% - 3.39% 5.57% 7.48% 8.46% 9.69%
EPS 2 1.66 1.7 1.31 1.47 1.34 1.257 1.308 1.408
Distribution rate 129% 43.5% - 68% 86.6% 97% 105% 112%
Net sales 1 467.2 427.6 454 502.5 498.9 470.9 481.8 526.4
EBITDA 1 168.5 140.6 133.8 143.8 127.6 116.8 123.2 136.3
EBIT 1 113.7 93.9 84.98 94.95 114.4 97.58 104.7 114
Net income 1 92.79 94.5 72.25 81.33 73.67 69.11 73.69 77.37
Net Debt 1 -170.6 -208.2 -228 -261.6 -255.5 -257.8 -215.6 -178.4
Reference price 2 53.67 30.29 32.56 29.47 20.81 16.31 16.31 16.31
Nbr of stocks (in thousands) 55,533 55,263 55,257 55,367 54,899 54,371 - -
Announcement Date 12/16/21 A 12/15/22 A 12/14/23 A 12/12/24 A 12/15/25 A - - -
1CAD in Million2CAD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
12.97x1.34x5.38x7.48% 641M
24.82x6.59x11.7x1.28% 457B
26.3x5.27x16.64x1.44% 249B
91.44x8.9x23.83x-.--% 146B
-5.74x112.7x1501.37x-.--% 54.87B
37.45x3.51x12.93x0.18% 46.32B
24.83x10.01x16.38x-.--% 20.13B
35.5x2.36x21.42x-.--% 19.62B
-214.31x3.79x12.69x - 13.87B
93.23x8.9x37.94x-.--% 13.52B
Average 12.65x 16.34x 166.03x 1.15% 102.14B
Weighted average by Cap. 31.50x 12.13x 95.35x 0.95%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield

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  4. Valuation Enghouse Systems Limited